[News Space=Reporter seungwon lee] Osstem Implant's subsidiary Osstem Cardio (CEO Park Geun-jin) is changing its name to 'OSSTEM VASCULAR'. Osstem Cardio announced that it had passed the agenda for the name change at the regular shareholders' meeting held on the 24th of last month and has begun administrative procedures including registration.

The new company name, Osstem Vascular, includes the word Vascular, which means blood vessel. The company’s mission reflects its intention to expand its business from existing cardiovascular medical devices to the cerebrovascular and peripheral vascular systems and become a global leader in the vascular intervention medical device market. Vascular intervention medical devices are medical devices that are used without incision to treat blocked or narrowed areas.

Osstem Vascular, which has established a position in the cardiovascular medical device market with its first domestically produced everolimus drug-eluting coronary artery stent, ‘CENTUM™’, has continuously pursued expansion of its business areas.

First, we reorganized the existing 'Stent Research Institute' into an 'Interventional Medical Device Research Institute' and devoted ourselves to strengthening research and development capabilities across the entire spectrum of vascular interventional medical devices.

In addition, the company formalized its business expansion by signing a distribution contract with Balt, a French multinational medical device company, in January of this year. Osstem Vascular, which has become the exclusive domestic supplier of Balt’s representative cerebral aneurysm treatment device, the ‘Optima Coil System,’ plans to expand its cerebrovascular treatment product line based on this.

In line with the change in mission, we are also committed to spurring the development of innovative technologies and providing optimal solutions to medical professionals and patients through reliable products.

Osstem Vascular CEO Park Geun-jin said, “This change of company name will be an important turning point for our leap forward as a specialized vascular medical device company,” and added, “We will further strengthen our competitiveness in the global vascular medical device market by expanding our business and reestablishing our brand identity.”